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$77,200 per coin: Bitcoin ($BTC) closed late on August 21 up 23% from $62,800 at the week's open, its largest single-week gain since 2023, after the U.S.
Treasury moved to compress government bond yields and President Donald Trump called on Congress to pass the Clarity Act on August 19.
Short sellers absorbed $2.70 billion in losses by August 20, when BTC climbed to $72,000, liquidating 172,108 professional traders per CoinGlass data. CoinGlass marks it the largest short-side loss on Bitcoin since 2021.
The move ended six consecutive weeks of trading between $60,000 and $65,000. Bitcoin's year-to-date low of $58,000, set at the end of June, sits 25% below Thursday's price.
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